What Is Parlay Betting?

Parlay betting is the merging of multiple individual bets into a single wager. N🌊ot only does it put you in a position to potentially win substantial money, but it also heightens the overall betting experience. Join us for an exploration of all things parlay, including top US parlay sports betting sites as well as tips to enhance your journey.

How Does Parlay Betting Work?

Quite simply, a sport betting parlay (sometimes called an accumulator, combo, or multi-bet) involves combining two or more picks to cr𓂃eate a single bet. T♌here can be as many as 14 picks — depending on the bookmaker, and you can choose them from similar or different sports betting markets.

What matters most is how you creatively combine these bets, not necessarily the odds provided. It ‘s true that a standard three-leg parlay bet offers a much higher potential payout than three individual bets. However, you should always note that multiple small stake wagers combined in a parlay can roll over into an even larger potential payout. After all, if the first leg wins, it multiplies with the odds in the next leg for a larger potential payout. This continues until all🌊 legs hit.

That said, you can only win a parlay if all the selections are correct. And the more legs in your parlay, the high𝕴er the risk and the better the odds — excellent conditions for an action-packed betting session.

How To Make a Parlay Bet

Whether you’re confident about two bets giving you a higher payout or simply want to place a long-shot parlay just for fun, the process isn't complicated. Here are th꧑e steps you typically need to follow when making a parlay at the best parlay betting sites:

1. Registration/log–in: You must create or sign in to your🐓 bookmak𒅌er account.

2. Find your picks: Navigate to your preferred sports and betting markets to select at least two individu🔯al bets to include in your parlay.

3. Determine your wager amount:♒ Most t🦩op bookies have an in-house betting odds parlay calculator tool to instantly calculate the odds and the total potential payout after selecting your legs.

4. Double-check: Before submitting the wager, make sure your selections andꦚ bet amount are cor🔯rect.

Best Sportsbooks for Parlay Bets

So, now that we’ve explained the essence 🦄of parlay in sports betting, below are the top US parlay betting sites to help you select the right platform for your needs.

DraftKings

This well-known operator in the US market is specifically loved for ཧits wide range of same-game parlays across different markets. You cꦿan easily customize your parlay bet using the DraftKings parlay builder tool or the Quick Parlay feature. Moreover, there are several pre-built same-game parlay betting options usually featured on the platform.

FanDuel

ඣAnother premier parlay ꦕbetting site, FanDuel features a vast collection of promotions, parlay bet types, competitive parlay betting odds, and an effortless design, which is replicated on its excellent sport betting mobile app.

BetMGM

Many bookies with the stellar reputation of BetMGM would have glided through the market without doing much. But BetMGM is not an ordinary sportsbook. This was evident becauseﷺ of the competitive parlay odds across its NFL and NBA markets. And it’s even clearer with the fantastic BetMGM app.

Caesars Sportsbook

From the seamless yet interactive web design to the enticing profit boosts on various parlay bets, every bit of Caesars Sportsbook is worthy of its reputation. In fact, the ꦜbookie is a fine contender for the best parlay betting site due to its immense variety of enticing offers.

Calculating Payouts

Before parlays, betting was straightforward: place one wager and when the game concludes, you either win or lose. Parlays, on the other hand, make things more interesting, enabling you to place multiple wag💫ers on one bet slip. Once every bet settles, you either win or lose your bet.

But how can you determine your total parlay payout? Most parlay betting sites usually automate this process. They feature an efficient betting parlay calculator t🐻hat instantly rolls over all the odds and multiplies them by the stak𝔍e.

And what if you want to calculate your potential parlay payout manually? Well, the process is also qu🧸ite simple. Take this 3-leg sport betting parlay as an example:

To calculate parlay payouts manually, start by converting your American odds to decimal odds for easier calculations. Since the odds in our example are positive, the formula is (American odds/100) + 1.

So now our odds are 3.15, 3.40, and 4.15, respectively. The nex🍒t step is to multiply them (3.15 x 3.40 x 4.15), giving you total odds of 44.44. That means if you stake $100, your totꦇal potential payout is $4444.

O♔f note, while using a betting♉ calculator parlay is quick and easy, it always helps to cross check the potential payout manually.

Example of a Parlay Bet

Of all the sports and events available worldwide, som�🐓�e are more popular than others when it comes to parlay betting online. They include:

NFL Parlays

The NFL Season marks an exciting time for football enthusiasts.𒆙 Every weekend, they can place hundreds of football parlay betting wagers on their favorite teams ♚to potentially win a huge payout.

But what if there’s a way to boost your potential payout🔯s from your NFL bets? That’s where NFL parlays come in handy. Suppose we place a 3-leg NFL parlay where the Green Bay Packers win outright at odds of -150, Dallas loses by less than seven points, and Kansas City and Cleve🎶land to score less than 50 points.

So the 🐭bet slip would look something like this:

That means if your stake is $1💮00, your potential payout from this bet slip would be $507.

NBA Parlays

Taking place every year from October to April, there’s so much to look forward to during the NBA, with NBA parlays ranking among the top.

The best part is that the odds are highly competitive, making the potential payouts even more worthwꦡhile. But let’s not forget that the risk multiplies the more legs you include in your parlay bet slip.

As an example, suppose you’re anticipating an NBA game with one of🀅 your favorite teams, Lꦫos Angeles Lakers. So you bet as follows:

That means if you place a $100 wager, your total potential payoutꦕ is $668. However, all your legs must be cor♌rect to win the parlay bet.

MLB Parlays

Undoubtedly the world’s most prestigious baseball event, the MLB is am🅷ong the most important markets for online sportsbooks. Further, this event offers plenty of jaw-clenching action, making it a terrific option to watch and place parlay bets on.

Below is an example of an ꦡMLB parlay bet slip:

So, if your s🐈take is $100, your total potential payout is $313 —▨ as long as all legs are successful.

Types of Parlay Bets

You'll find that all the best parlay betting sites offer several types of parlay bets across almost all sports you can th꧙ink of. However, some of the most popular parlay bet types are:

Teasers

There’s not much difference between a standard parlay and a teaser bet; after all, the inclusion process of multiple bet types on your parlay bet slip is the same. The only differ⛄ence i🌳s that you can’t place a moneyline bet here.

As a result, the spread/line moves towards the team you’ve bet on, meaning you’l𓆉l likely get lower odds than a conventional parlay. Plus, th♕e line can be teased anywhere from six to 10 points.

For instance, the Houston Texans can move from +4 to +10 points, while the Buffalo Bills ca🦹n go from -6 to 1. Nonetheless, the line is likely to be more favorable, drastically reducing the risk. Like traditional parlays, the more picks included in your teaser, the higher the potential pay♉out.

Round Robins

Now, this can be somewhat confusing because a round robin bet consists of two levels. So here we go. A round robin refers to a bet type where you can create smaller picks from your larger picks on your parlay bet slip.

So, let's say you have three picks in the NFL for Tampa Bay Buccaneers, Washington Football Team, and Arizona Cardinals. A round-robin bet allows you to wager three smaller wagers on each pick, and you decide on three different two-team parlay bets. That could consist of Buccaneers @ Cardinals, Washington @ Buccaneers, and Cardinals @ Wa𒉰shington.

So, if one of the teams you picked loses, all bets that the team is part of lose. But all other parlay bets are ♏still eligible for a payout if they win. In case one of the games concludes in a push, the parlay bets which the team is in becomes 𓆏a straight wager.

Same-Game Parlay

A same-game parlay is like any other traditional one, except it only consists of picks from the same game/match. Here, the risk a♉lso reduces significantly since the picks are often correlated. Therefore, if one pick is correct, there’s a high chance that the next one is too.

Let's say there's a game between the Tampa Bay Buccaneers and Kansas City Chiefs, and you believe the Chiefs will win by over 56 points. Likewise, you may also predict that Tom Brady will score big, so you’ll place a player prop bet on the same game in favoꦓr of this player. You may also wager a moneyline bet in favor of the Kansas City Chiefs.

As a result, hitting one leg is as good as hitting the neꦬxt one, but it’s insufficient to guarantee a win since sports are highly unpredictable.

Risks & Rewards

The key to parla🎐y betting is being attentive and makin🃏g the right picks, and to always staying focused on the event you’re betting on.

Although that +2000 Miami Heat moneyline looks lucrat🐟ive, it may cause your entire parlay to bet. We know how enticing it is to transform that $10 wager into a profitable payout worth a couple of thousands, but remember that the more picks youಞ include in your parlay, the higher the risk.

Nonetheless, do🥂n’t forget to do your homework by looking at recent player and team statistics. It’s also vital to always think critically and consider all possible outcomes.

Pros & Cons of Parlays

Below is a brief outline of the benefiꦉts and risks of parlay bets.

ThePuntersPage Final Say

So, there you have it: everything you need to know before placing 🧸your first parl✤ay bet.

Clearly, this type of bet targets those who want to get more bang fo🌜r their buck. We’ve discussed the importance of always researching before making a parlay; but don’t overlook the fact that choosing the most suitable sit♏e also plays a vital role in a successful parlay betting session.

All in all, parlay wa♊gers are about boosting the thrill of sport betting just as much as they are a skillful approach to sports betting. And with the right parlay betting strategy, you can enjoy the best of both worlds.

Parlay Betting Resources